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Home ยป Minister Denies Directing NNPCL to Stop Running its Refineries

Minister Denies Directing NNPCL to Stop Running its Refineries

Adetunji Tobi by Adetunji Tobi
October 9, 2024
in Mobility
0
Fresh Fuel Scarcity, NNPCL
NNPC limited

NNPC limited

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Sen. Heineken Lokpobiri, minister of State Petroleum Resources (Oil) has refuted claims that he directed the Nigerian National Petroleum Company Limited (NNPCL) to stop operating its refineries.

In a statement titled โ€˜Clarification on NNPCL Refinery Operationsโ€™, Lokpobiri said:

โ€œMy attention has been drawn to statements made by Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented me at a recent conference in Lagos. I wish to categorically state that the claim that I directed the Nigerian National Petroleum Company Limited (NNPCL) to stop running its own refineries and focus solely on equity participation in other refineries is false.

โ€œThis does not represent my position as Minister overseeing the oil sector, nor does it reflect the stance of the Federal Government.

โ€œIt is important to clarify that NNPCL is a company governed under the Companies and Allied Matters Act (CAMA), with a functional board and management.

โ€œThe Ministry of Petroleum Resources does not control or run NNPCL, as it operates independently like any corporate entity.

โ€œThe oil and gas sector is fully deregulated, and the Nigerian government remains committed to promoting in-country refining.

โ€œWe encourage companies, including NNPCL, to operate independently, following global best practices. While we provide strategic guidance, we do not interfere directly in the operations of these companies.

โ€œI reaffirm our commitment to supporting the growth and independence of NNPCL, ensuring that its operations are in line with international standards for efficiency and transparency and profitabilityโ€.

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Adetunji Tobi

Adetunji Tobi

Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

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